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CDFI Fund Invites Comments on NMTC Allocation and QEI Tracking System

Monday, November 28, 2022 - 10:15AM

The Community Development Financial Institutions (CDFI) Fund published a notice in today’s Federal Register, inviting comments concerning the new markets tax credit (NMTC) program allocation and qualified equity investment tracking system (AQEI). The CDFI Fund developed the AQEI to enhance an allocatee’s ability to report information concerning the issuance of its qualified equity investments (QEIs), enhance the CDFI Fund’s ability to monitor the issuance of QEIs within the required timeframes, provide the CDFI Fund with basic investor data to be aggregated and analyzed and provide the CDFI Fund with information about the status of qualified active low-income community businesses (QALICBs) and qualified low-income community investments (QLICIs) at the end of the NMTC compliance period. In response to a 2014 Government Accountability Office report, comments are invited on two new data points: the tax credit amount received in conjunction with a pass‐through entity for another tax credit program and other public subsidy used to fund leveraged loan data points. Comments must be submitted in writing by Jan. 27, 2023, to [email protected].

Reporting requirements and the calendar year 2022 application round for the NMTC will be topics at the Novogradac 23rd Annual New Markets Tax Credit Conference, Jan. 19-20, 2023, in San Diego.

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